Venture Capitalists Invest $10 Million in Ketera Technologies

by By Editorial Staff On Apr 27, 2004

Plus, former president of Salesforce.com joins Ketera board

Santa Clara, CA — April 27, 2004 — Ketera Technologies, a provider of "on demand" spend management solutions, today announced that venture capitalist firms have invested $10 million in the company in follow-on funding.

The investment included funding from Integral Capital Partners along with additional funding from current investors Kleiner Perkins and Foundation Capital.

Ketera also announced that John Dillon, former president and CEO of Salesforce.com, has been appointed to serve on the company's board of directors.

Ketera said it has experienced wide adoption of its on demand model — Ketera Spend Management service — with such companies as Delta Airlines, Maytag, CNF, Kennametal, The Gap and The Washington Post.

Ketera said it plans to use the additional funding it received to enhance it's on demand spend management service.

With regard to the company's new board member, Steve Savignano, chairman and CEO, Ketera Technologies, said Dillon brings with him wealth of leadership expertise and experience in high-growth technology companies. Currently CEO at Navis Solutions, he was previously president and CEO of Salesforce.com, Arbor Software and Hyperion Solutions.

"We are delighted to welcome John to the Ketera team," Savignano said. "His prior experience as president and CEO of Salesforce.com will be very valuable as we take Ketera to the next level."